Super Micro Computer (NASDAQ:SMCI) Shares Down 0.8% – Here’s What Happened

Shares of Super Micro Computer, Inc. (NASDAQ:SMCI) were down 0.8% during mid-day trading on Wednesday . The company traded as low as $32.99 and last traded at $33.54. Approximately 14,981,339 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 83,380,203 shares. The stock had previously closed at $33.80.

Analysts Set New Price Targets

SMCI has been the topic of several recent research reports. Wedbush reiterated a “neutral” rating and set a $32.00 price objective (down from $62.00) on shares of Super Micro Computer in a research report on Monday, November 4th. Barclays reduced their target price on Super Micro Computer from $438.00 to $42.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 2nd. Wells Fargo & Company cut their price target on shares of Super Micro Computer from $65.00 to $37.50 and set an “equal weight” rating on the stock in a report on Wednesday, August 28th. The Goldman Sachs Group dropped their target price on shares of Super Micro Computer from $67.50 to $28.00 and set a “neutral” rating for the company in a research report on Wednesday, November 6th. Finally, Needham & Company LLC began coverage on shares of Super Micro Computer in a research note on Wednesday, September 18th. They issued a “buy” rating and a $60.00 price target for the company. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $66.89.

Super Micro Computer Stock Performance

The business has a 50-day moving average of $36.27 and a 200-day moving average of $54.95. The company has a market capitalization of $18.99 billion, a P/E ratio of 17.04 and a beta of 1.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 3.77 and a quick ratio of 1.93.

Institutional Trading of Super Micro Computer

Hedge funds have recently modified their holdings of the company. State Street Corp lifted its holdings in shares of Super Micro Computer by 4.3% during the 3rd quarter. State Street Corp now owns 2,138,142 shares of the company’s stock valued at $890,322,000 after purchasing an additional 88,692 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Super Micro Computer by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,266,040 shares of the company’s stock valued at $529,753,000 after acquiring an additional 16,007 shares in the last quarter. Disciplined Growth Investors Inc. MN grew its holdings in shares of Super Micro Computer by 3.1% during the third quarter. Disciplined Growth Investors Inc. MN now owns 1,043,469 shares of the company’s stock valued at $434,500,000 after buying an additional 31,064 shares during the last quarter. International Assets Investment Management LLC grew its stake in Super Micro Computer by 63,634.1% during the 3rd quarter. International Assets Investment Management LLC now owns 916,496 shares of the company’s stock valued at $381,629,000 after purchasing an additional 915,058 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Super Micro Computer by 0.6% in the second quarter. Dimensional Fund Advisors LP now owns 345,830 shares of the company’s stock valued at $283,609,000 after purchasing an additional 2,011 shares during the period. 84.06% of the stock is owned by hedge funds and other institutional investors.

About Super Micro Computer

Super Micro Computer, Inc, together with its subsidiaries, develops and manufactures high performance server and storage solutions based on modular and open architecture in the United States, Europe, Asia, and internationally. Its solutions range from complete server, storage systems, modular blade servers, blades, workstations, full racks, networking devices, server sub-systems, server management software, and security software.